In this work we put forth a new stake-based primitive, stake-based threshold multisignatures (STM, or “Mithril” signatures), which allows the aggregation of individual signatures into a compact multisignature pro- vided the stake that supports a given message exceeds a stake threshold. This is achieved by having for each message a pseudorandomly sampled subset of participants eligible to issue an individual signature; this ensures the scalability of signing, aggregation and verification.
We formalize the primitive in the universal composition setting and propose efficient constructions for STMs. We also showcase that STMs are eminently useful in the cryptocurrency setting by providing two applications: (i) stakeholder decision-making for Proof of Work (PoW) blockchains, specifically, Bitcoin, and (ii) fast bootstrapping for Proof of Stake (PoS) blockchains.
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